Plan for financial resolution of JSC Gazenergobank approved

The Bank of Russia reviewed and approved amendments to the plan for the State Corporation Deposit Insurance Agency to participate in bankruptcy prevention measures for the Kaluga Gas and Energy Joint-Stock Bank Gazenergobank (Joint-Stock Company) (the Bank) (Registration No. 3252, Kaluga), including the plan for financial resolution of the Bank.

The Bank’s core business will be retail lending, which will be developed in cooperation with PJSC SKB-Bank, the Bank’s Investor.

The plan for financial resolution provides for a merger of the Bank with the Investor by the end of 2028. The joint venture will comply with the Bank of Russia’s mandatory requirements, including buffers to the capital adequacy requirements, for financial stability of credit institutions.

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